LOCAL company Atlantic Aviation Group (AAG) announced today that it has acquired Lufthansa Technik Shannon.
The future of Lufthansa Technik Shannon had been in doubt for a number of months as a strategic review of the business was ongoing, which was followed by a sale process.
It is not immediately clear what impact there will be on jobs in Shannon. While AAG released a statement this morning in which it stated that 300 Lufthansa Technik Staff would be joining AAG, there were 505 people working there in 2020.
In this morning’s statement AAG said the deal “will bring AAG’s total workforce to approximately 740 people across sites in Shannon and Brize Norton in the UK. For the remainder of 2021, both companies will focus on transition planning with the aim to have a smooth integration in early 2022. The deal is subject to approval from the LHT Supervisory Board, and the terms of the sale will remain confidential.”
It claimed the purchase makes AAG the largest aircraft Maintenance, Repair & Overhaul company in the country.
Commenting on today’s announcement, AAG Chief Executive Shane O’Neill, said:“Today is a good day for Irish aviation. In bringing Lufthansa Technik Shannon into the AAG family, we will be creating a platform for future success.
“We are proud to be able to secure approximately 300 jobs for the region – a majority of roles from the outgoing Lufthansa Technik Shannon business. We look forward to welcoming this highly skilled team to our operations and adding to our incredibly talented and experienced team at AAG.”
Shannon Group CEO Mary Considine welcomed news of the deal. ““As customers of Shannon Group, both AAG and Lufthansa are an important part of the Shannon Free Zone’s ecosystem and the cluster of aviation businesses here, and I would like to congratulate AAG and wish them every success into the future.”